PE Associate Rejected at HSW... Now What?

What are people's thoughts at this point? I'm at a MM / UMM fund right now who got dinged at HSW (only schools I applied to). My firm's willing to keep me on for another year, so I'm not worried about unemployment, but as I'm considering my next steps I'm wondering if it's worth lateraling or going to another b-school at this point?

My outcome is pretty typical for my fund in that maybe 1/4 of associates get into H/S, maybe 1/2 get into W, and pretty much everyone gets into B/K/C/S. I got a 760 on the GMAT so that wasn't my issue, I think it's just how oversaturated the market is with PE folks (anecdotally, I've heard that HSW has gotten much more difficult over the last 5 years coming out of my firm). I'll obviously rewrite all my essays, hire a consultant, etc., but I'm not holding my breath for a materially better outcome.

I think I'd have a decent shot lateraling elsewhere but the thing is, I really want to go to business school for the experience / 2-year vacation. Is it worth going to a non-HSW school if I want to stay in UMM PE or should I just lateral if I don't get in? Gracias everyone.

 

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